Talc Market - Growth, Trends, and Forecast (2020 - 2025)
The market for talc is expected to register a CAGR of around 5%, during the forecast period. One of the major factors driving the market is the increasing usage of plastic in the automotive industry, as talc is used in plastics, especially thermoplastics, as a functional material, due to its ability to modify significant properties in modified polymeric matrix, when it is dispersed properly.
Increasing demand for industrial and marine coatings is also likely to boost the demand for talc, as it is used in industrial coatings, which provide benefits, such as corrosion protection, solvent reduction, and good adhesion.
Thermoplastics are expected to play an increasingly important role in accelerating future aircraft construction, as they offer multiple advantages, including very short production times and low overall costs, compared to their thermoset counterparts. The surging demand for thermoplastics in the aerospace industry is likely to act as an opportunity in the future.
AsiaPacific dominated the talc market across the world, owing to the rising plastics market in China and presence of white talc reserves in countries, like India.
Key Market Trends
Increasing Demand from Paints and Coatings Industry
The utilization of talc offers various advantages in the paints and coatings industry. It is mainly used in industrial paint and coatings, wood lacquers, printing inks, fillers, as well as in various other coatings.
Talc is primarily used as an extender and effective filler in paints and helps to improve the suspension of solids in the can. It is also helping the liquid paint adhere to a wall without sagging.
Furthermore, talc generates a barrier effect to limit the penetration of water and corrosive agents into paints and coatings, and further helps to reduce bubble formation, corrosion, and peeling.
The demand for paints and coatings increased in the AsiaPacific countries, such as China and India, in recent years, which is expected to boost the demand for talc.
AsiaPacific's commercial and residential construction is growing significantly, with the increasing investments by the Governments of India, China, and Indonesia.
Furthermore, the growth of commercial real estate in India is largely driven by service sectors, especially ITITeS. The Indian government's ‘Housing for All by 2022’ initiative is also a major gamechanger for the industry.
All the aforementioned factors, in turn, are expected to drive the demand for talc market during the forecast period.
AsiaPacific Region to Dominate the Market
AsiaPacific region dominated the global market share with the growing demand from the countries such as China, India, and Japan.
China has a huge plastics market that requires high supply of talc to function. In China, talc is found in 15 provinces, with Liaoning, Shandong, Guangxi, Jiangxi, and Qinghai as the prominent areas that account for more than 90% of the total reserves.
China stopped manufacturing its own pulp which resulted in the raise of pulp prices which is expected to hinder the growth of talc consumption in pulp & paper industry of the country.
India is one of the few countries with white talc reserves. The deposits of talc are found throughout the country. Most of the white talc produced is consumed in the country itself.
Most of the commercial talc production of talc comes from Rajasthan. The two leading talc producers in the country (Golcha Group and Golcha Assoaciated) are based in Jaipur, Rajasthan catering cosmetics and polymer industry with talc of superior grades.
Apart from these producers, the country has several smallscale producers that produce standard or lowquality grades.
The plastics sector of Japan is stable and balanced in terms of proportion of production to demand. The exports of plastics from the country is always higher than the imported amount. Notably, the trade is primarily with Asian countries.
All these factors, in turn, are expected to drive the demand for talc in the region during the forecast period.
The talc market is moderately consolidated. The top five players accounted for around 30% share of the market. The top players of the market include Imerys, Mineral Technologies Inc., IMI Fabi SpA, Nippon Talc Co., Ltd., and Golcha Group, among others.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook